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PowerPoint Presentation Example

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My uncle a few months ago asked me for advice regarding his business structure. His business was operated as a sole proprietorship. Two of the benefits of sole proprietorship are decision making control and allocation of full profits to the owner. I presented my uncle with three alternative business structures: partnership, joint stock company, and limited liability company…
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Download file to see previous pages A limited liability company (LLC) is a hybrid form of business organization with certain features like a corporation and others like a limited partnership (Weygandt, Kieso, Kimmel, 2002, pg.523). One of the advantages of an LLC is limited liability in case of bankruptcy or liquidation. A disadvantage of LLC is that they have a limited life. The third option I presented was a joint stock company. A joint stock company is a company which has some features of a corporation and some features of a partnership in which the company sells fully transferable stock, but all shareholders have unlimited liability. Work Cited Page Weygandt, J., Kieso, D., Kimmel, P. Accounting Principles (6th ed.). New York: John Wiley & Sons. 2002. ...Download file to see next pagesRead More
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